First Bancorp Completes Purchase of Four Branches From RBC Centura

First Bancorp Completes Purchase of Four Branches From RBC Centura 


TROY, N.C., Oct. 27  /PRNewswire-FirstCall/ -- First Bancorp , the parent
company of First Bank, reports today that it has completed the purchase of four
RBC Centura branches located in Wallace, Kenansville, Fairmont, and Harmony, all
in North Carolina.  The agreement to purchase these branches was announced on
August 14, 2003.  The branches have a total of approximately $102 million in
deposits and $25 million in loans.

Jimmie Garner, President and CEO of First Bancorp, addressed the customers of
RBC Centura, "I'm delighted to welcome you to First Bank.  Each of the four
branches opened this morning as branches of First Bank with the same friendly
staff that served you so well as employees of RBC Centura.  I know they'll
continue to take good care of you."

Mr. Garner continued, "We're planning a grand re-opening for each branch on
December 5.  I look forward to meeting you and telling you more about our
Banking One-on-One philosophy.  I believe you will be very pleased with the way
First Bank operates."

Mr. Garner also addressed his new fellow employees: "It has been a pleasure to
get to know you over the past several months.  I would like to thank you again
for your hard work in ensuring a smooth transition.  We have a bright future
together in making First Bank the best community bank possible."

Mr. Garner added, "Today's acquisition of the Fairmont branch increases our
deposit base in Robeson County to over $100 million, while the branches in
Harmony, Iredell County, and Wallace and Kenansville, Duplin County, represent
new, strategic markets for First Bank that I believe will contribute to the
long-term growth of our company.  I believe today is a good day for our new
customers and employees, as well as for our shareholders."

First Bancorp is a bank holding company based in Troy, North Carolina with total
assets of approximately $1.4 billion.  Its principal activity is the ownership
and operation of First Bank, a state-chartered community bank that operates 55
branch offices, with 51 branches serving 18 counties across North Carolina, 3
branches in Dillon County, South Carolina, and 1 branch in Wytheville, Virginia,
where First Bank does business as First Bank of Virginia.  First Bancorp's
common stock is traded on the Nasdaq National Market under the symbol FBNC.

Please visit our website at http://www.firstbancorp.com/.

This press release contains statements that could be deemed forward- looking
statements within the meaning of Section 21E of the Securities Exchange Act of
1934 and the Private Securities Litigation Reform Act of 1995, which statements
are inherently subject to risks and uncertainties.  Forward- looking statements
are statements that include projections, predictions, expectations or beliefs
about future events or results or otherwise are not statements of historical
fact.  Such statements are often characterized by the use of qualifying words
(and their derivatives) such as "expect," "believe," "estimate," "plan,"
"project," or other statements concerning opinions or judgments of the Company
and its management about future events.  Factors that could influence the
accuracy of such forward-looking statements include, but are not limited to, the
financial success or changing strategies of the Company's customers, the
Company's level of success in integrating acquisitions, actions of government
regulators, the level of market interest rates, and general economic conditions.


DATASOURCE: First Bancorp



CONTACT:  James H. Garner of First Bancorp, [phone]



Web site:  http://www.firstbancorp.com/ 

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